Wednesday's Tech Winners & Losers
Citrix Systems (CTXS) fell modestly after the software company boosted its stock buyback program by up to $300 million. The total repurchase plan now sits at $1.5 billion. As of Sept. 30, the company had $85 million remaining under the plan. Shares were down 22 cents to $29.31.
Shares of Nice Systems (NICE) traded actively after the Israeli communications outfit posted better-than-expected third-quarter results. The company reported a loss of $5.4 million, or 11 cents a share. Excluding certain items, the company earned $16 million, or 31 cents a share, beating analysts' forecast by 2 cents a share. Adjusted revenue totaled $112.2 million, compared with analysts' prediction of $110 million. Last year, Nice Systems posted adjusted earnings of $9 million, or 22 cents a share, on revenue of $82.7 million.
Nice Systems sees fourth-quarter earnings of 32 cents to 37 cents a share, with revenue of $115 million to $120 million. Analysts project earnings of 33 cents a share and revenue of $117.1 million. Shares were trading down 14 cents to $30.63, on more than double their average daily volume.
Other technology movers included Microsoft (MSFT), up 13 cents to $28.84; Sun Microsystems (SUNW), down 6 cents to $5.37; Cisco Systems (CSCO), up 25 cents to $24.38; Intel (INTC), down 9 cents to $21.25; Dell (DELL), up 45 cents to $24.78; Sirius Satellite Radio (SIRI), down 6 cents to $3.77; Finisar (FNSR), down 13 cents to $3.35; and Apple Computer (AAPL), down 73 cents to $80.35.
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